Category:

Disaster & Management

Billion-dollar June hail event becomes one of Canada’s costliest severe weather events on record, Aon cat report 

Meanwhile, several severe weather outbreaks in the United States in June resulted in an economic loss exceeding USD2.3 billion. The costliest event was a prolonged weather pattern from June 5-11 across much of the eastern two-thirds of the United States that caused total economic losses estimated at USD800 million, of which more than USD600 million was insured.

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Chubb wants U.S. to offer businesses pandemic cover, with insurers taking some risk

Under Chubb’s plan, the government would offer up to $750 billion in coverage for small businesses with up to 500 employees. Of that, the industry would pay for 6% of claims, or up to $15 billion, during the program’s first year, growing annually to 12% by year 20. COVID-19, the disease caused by the novel coronavirus, would be excluded.

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